Craig, a trader using Wyckoff and VSA principles, commented on the UpThrust trade setup. You can see his comment here, on the VSA Trading Group FaceBook page. (Thats a cool group you might want to join, BTW). Springs & UpThrusts Springs and UTs are my 'bread & butter' trade setups. They are so valuable to a trader because they 1) have very high odds in the right … [Read more...]
More Market Weakness Expected
As we anticipated last week (see post here), the market weakened, breaking the support around the 1420 level. Although it tried to hold on Monday, the buyers failed to rally off of support and sellers took the market down decisively on Tuesday. The remainder of the week saw the market slide lower down to the 1394 level painted on the closing days of summer here in the … [Read more...]
US Stock Market Weakens. Next Moves.
Friday saw some strong selling come into the US Stock market. This was not constructive for the market. Does it mean we are now about to go lower? Based on the current picture of supply and demand, I think the odds favor lower prices. Let's take a good look at the daily bar chart of the S&P e-mini futures market (ES) since early September, and then apply the Weis Wave … [Read more...]
Back from Asia to Trade Springs!
I'm back from South East Asia and Australia - what a great trip! We had pretty special live events in Singapore, Kuala Lumpur, Malaysia, and Sidney. It was one of the very best times I've had in my trading career. Although I am glad to be home, I really can't wait to go back and reconnect with all the terrific traders I met. One of the themes I focused on in the teaching … [Read more...]
Off to Asia as Market Continues To Rally
I am off to Asia early next week for a series of seminars. One of the things I will be teaching is the classic Wyckoff setups, such as the Jump Across the Creek, which the market experienced yesterday. Absorption, JAC shown by Weis Wave In the doldrums of late August, the market went sideways and volatility collapsed. As a Wyckoff trader, trading ranges like we have had for … [Read more...]
